WebPT Receives Significant New Investment

Reprinted from: http://www.bizjournals.com/phoenix/blog/techflash/2014/06/webpt-receives-significant-new-investment.html

Phoenix-based WebPT has received a significant investment from Menlo Park, California-based Battery Ventures to fuel more of the tech firm’s gangbusters growth.

Financial terms were not disclosed.

WebPT was named by the Phoenix Business Journal as one of the 10 Companies to Watch.

The physical therapy solutions provider will use the fresh capital injection to more rapidly expand its already aggressive growth, said CEO Paul Winandy.

“We’re at the cutting edge of health care technology and this infusion of capital will allow us to keep innovating in the physical therapy space,” he said.

Founded in 2006 by Brad and Heidi Jannenga, WebPT provides a suite of software solutions for physical therapists. It has grown into a multi-million dollar enterprise, raking in $17 million in revenue last year. The company projects to crack $25 million this year.

More than 35,000 therapists use WebPT’s services.

“WebPT is pioneering a new way for rehab therapists to manage their business operations, while saving them time and money,” said Chelsea Stoner, Battery Ventures general partner, who also is joining the WebPT board. “As the electronic medical records industry is continuing its explosive growth, WebPT, with its advanced technology and innovative leadership team, has carved out a unique position in the market. We look forward to helping the company continue to achieve success and solidify their position as the leader in this sector.”

Last year, Brad Jannenga was named as an Entrepreneur of the Year by Ernst and Young. The 2014 EOY finalists and winners are featured in Friday’s print edition of the Phoenix Business Journal.

For more on WebPT, click here.

Reprinted from: http://www.bizjournals.com/phoenix/blog/techflash/2014/06/webpt-receives-significant-new-investment.html